US super-rich keep on getting richer: Report

The total wealth of the 400 American super-rich grew 13 percent compared with last year and reached to USD 1.7 trillion.

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A recent report has revealed that the average wealth and assets of the 400 richest people in the United States worth as much as one eighth of the US economy.
According to the report released by the Forbes magazine, the total wealth of the American 400 super-rich grew 13 percent compared with last year and reached to USD 1.7 trillion.
The report also shows that the average wealth of a person on the list of the American super-rich increased USD 400 million in comparison to last year, reaching USD 4.2 billion, which is a new record.
The Forbes reports further indicated that seventy percent of the 400 people on the list made their fortunes entirely from scratch. It also showed that California has the highest number of rich people in the country.
Bill Gates, the founder of Microsoft, took the first spot on the Forbes list for the 19th year in a row, with a fortune worth of USD 66 billion.
The majority of the people on the list became richer in 2012. Michael Bloomberg, who has been the mayor of New York for three consecutive terms, got richer this year and took the 10th spot on the list. George Soros, Liberal financier and politician, took the 12th place on the list.
Luisa Kroll, an editor at the Forbes magazine, says the widening gap between the “very rich” and the “merely rich” has led to the new record of wealth among the American super-rich.
Economic experts believe that the gap between social classes in the American society is currently larger than any other time.
TNP/JR